Savings A/c Cash Deposits treated as ‘Unexplained Money’ during Income Tax Assessment: ITAT Remands matter to AO [Read Order]
The ITAT proceed to remit the matter back to the Assessing Officer observing the absence of relevant supporting evidence warranting addition of ‘Unexplained Money’
By Avinash Kurungot - On November 14, 2024 3:51 pm - 2 mins read
The Hyderabad Bench of the Income Tax Appellate Tribunal ( ITAT ) was recently faced with a matter wherein an Assessee’s Cash Deposits in their Savings Bank Account were treated as ‘Unexplained Money’. The ITAT proceeded to remit the matter back to the Assessing Officer ( AO ) for fresh assessment. The judgment was rendered…
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